♪ imus in the morning ♪ >> are you better off? no, you are not. good morning, everyone. income is down, way down in the obama years and down again last month. income now lower by 8.2%. that is a flat-out decline in purchasing power and standard of living for american households, down. but so far, no impact on president obama's standing in the polls. he leads in swing states, ohio and florida and on the question of economic policy, the president leads mitt romney 48-39. now, this is what happens in

europe when living standard plunge, rioting overnight in spain and a general strike in greece, this is the people's response over there to austerity. we've got another all-star lineup for you, watch out everybody, "varney & company" is about to begin. woman 1: this isn't just another election. we're voting for... the future of our medicare and social security. man 1: i want facts. straight talk. tell me your plan... and what it means for me. woman 2: i'm tired of the negative ads and political spin. that won't help me decide.

man 2: i earned my medicare and social security. and i deserve some answers. anncr: where do the candidates stand on issues that... affe seniors today and in the future? find out with the aarp voters' guide at earnedasay.org

>> good morning, "varney & company" viewers, today is wednesday, december 26th. here is the big story of the day. a picture of decline and financial hardship. since president obama took office, household income is it down a whopping 8.2%, even if you measure from the time when the economic recovery began, household income down nearly 6%, bad news. and from 2009, 12 million more americans are on food stamps, that's a gain of 34%. in september alone, just in one month, nearly 83,000 people signed up for federal social disability benefits.

736,000 this calendar year, 2012. so, will mitt romney ask the same questions president reagan asked more than 30 years ago. remember this? >> are you better off than you were four years ago? is it easier for you to go and buy things in the store than it was four years ago? is there more or less unemployment in the country than there was four years ago? is america as respected throughout the world as it was? >> good questions, maybe mitt romney can do the same questioning. now, look at the polls in light of our worsening financial situation, according to the latest from bloomberg, 48% trust president obama's economic plan. 39 for mitt romney. we're going to get into this a little more throughout the program. so, what does the governor have to do to gain the advantage? we're going to ask mike reagan that question, he's coming up in our next hour. and by the way, tune into facebook, please. here is the question, are you

better off than you were four years ago, we want to hear from you, especially if your answer is yes, we'll read some of those responses in our next hour. to europe, and what you're about to see will affect your money today. greece faces a national strike to protest austerity measures proposed by the european units and demonstrators are marching on athens against salary and pension cuts as a condition of the bailout. it's not just greece against austerity, in spain, thousands of people attack parliament over the conditions of the bailout. new pension of salaried cuts will be announced tomorrow. the leader of catalonia, spain's main economic region has threatened to secede from the country in a referendum vote next month. we'll bring you updates as they come in throughout the show and that will affect your money today. someone needs to explain to me how the polls show president obama winning if all the numbers point to a failure of his economic policies. can we believe these polls? greg valliere will join us and

i'm told i won't like what he has to tell me. karl rove. bottom line you're skeptical of the polls because of the internals. you're skeptical. we asked over 3,000 doctors to review 5-hour energy

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economic malaise that middle america is suffering. at 10:30 this morning, numbers on how much oil there is in storage. we expect the number to go up. in other words, less demand for oil, there is another economic indicator. and watch for that at 10:30. and it could move the market, especially a big build in inventory finding a very slow economy and we're also going to get a ten o'clock new home sales numbers and normally they do not directly affect the market and we'll see coming up at ten o'clock this morning and you will have the numbers. the opening bell has stopped, it's stopped ringing and now they're actually trading and we're expecting a modest, actually, we're expecting a flat market to start with. flat to slightly lower, because of what's happening in europe, mayhem over there, especially in spain and that does not bowed well for america's stock market. we should see. we're dead flat in the half minute's worth of business. perhaps we were hasty when we

put the blackberry maker rim, adding they added 2 million subscribers, nicole, i want a stock price. >> am i included in the "we"? i didn't have them on death watch, you may remember. stuart: you're right. >> the death music came on, hold on, what happened yesterday. went up 5% because they added subscribers and 3.3%, and up to 80 million subscribers. stuart: i got it. now, tell me why. i mean, and hold on, look, this is a blackberry and it's supposed to have been going out of fashion and the stock is in the tank. how did they manage to acquire another, an extra 2 million subscribers? >> frankly, i was impressed myself. here is why, they have a couple of low end devices that are doing well, plus, the new blackberry 10, stuart, not only is getting good reviews and people are saying they're impressed able to move between

apps quite easily and flows through those and third and last thing, developers say they're making money on apps off of blackberry in a way they couldn't necessarily do in other places. one guy makes $1500 a month with an app fo free prayer each day. stuart: okay. >> those are the reasons. stuart: if they like the new model and the apps to well, i guess that stalled base of big companies which have blackberries for their companies, they're likely to trade up and stay with blackberry as opposed to migrate to a droid or an iphone, i guess that's the reasoning. >> the corporate element is a big one, such as the fox business network. can i say that out loud? we have blackberries, other companies want to change to iphone, so far blackberry is doing all right. stuart: i wonder if blackberry hit bottom around $6 a share, i wonder. the day traders no doubt will be

in this big time. thanks, nicole. here is a story we're following today. average american income down more than 8% since president obama took office. there are 12 million more people getting food stamps compared to when he took office. and president obama, however, is ahead in mainstream polling. greg valliere in d.c., i know there's a smirk on your face. >> no, no. stuart: yes, you do. i don't believe these polls. i don't believe-- i know that's irrational on my part, but i don't believe them. go. >> well, i have news for you, stuart, i don't either. i don't believe the new york times this morning showing that obama is ahead by 9 in florida, i just don't believe that. i don't believe the polls showing obama ahead by 10 in ohio. he's ahead in both states, but certainly not by those kinds of numbers. stuart: i'm inclined to look internally at the polls, who exactly is being polled? we were told by karl rove yesterday that if you look at

those internals, they are he' actually polling more democrats than republicans. and they make the assumption that the voting patterns will be the same this year as they were in 2008 and that's a false assumption in my opinion. >> well, there are a lot of really legitimate issues, stuart. how many people do you poll who are on land lines or cell phones? how many african-americans do you put in your sample and especially, how many self-identified democrats as opposed to republicans. the poll takers, just about all of them, will tell you that they go on what people identify themselves as and more people right now are saying that they're democrats. but i tend to look at the real clear politics average that's got obama up by 3.8, i think this morning, and rasmussen goss a very good job, but even rasmussen on tuesday or monday, had obama winning by 12 in michigan. so, the polls have broken. you can't deny the polls in the last week in the battle ground states have broken in one

direction. stuart: i guess i'm in denial. i guess i am. hold on a second, greg. can you explain something to me? in a poll in ohio, when asked the question about who is the best leader on economic policy, it was 48-39 for president obama, at a time when the economy is really, really not doing well at all. can you explain that to me? >> yeah, two things, the unemployment rate in ohio has come down by quite a bit, as the republican governor john kasich will tell you. the economy there has turned around number one. and number two, i think you've got to say that romney is not resonating with middle class voters, they don't like his business background, don't like his policies. for whatever reason they're not thrilled with obama, it would be ridiculous to say that, but i think the middle class just doesn't like mitt romney. stuart: what would you advise mitt romney to do in the debates one week from now?

>> not be super, super aggressive, but being dispassionate and explain in great detail why his prescription would help the economy. i think most people don't get it yet. they don't understand the romney prescription. he has time. i want to emphasize, the race is not over yet. plenty of money, two more unemployment reports to come three presidential debates. he has time, but he has to explain clearly why his plan is better. stuart: i've got one more thing i wish you could explain for me again. again in a poll in ohio out this morning, it gives president obama a 25 point lead amongst women. can you explain it? >> well, you know, object on a lot of social issues, i don't think that ryan helped. ryan and todd akin in missouri supported abortion legislation that's pretty harsh and the gend gender gap widened after ryan

was put on the ticket. a huge gams. that's another one of these polls, like the florida poll, i just don't quite believe the numbers. >> we agree, i thought we would have a violent disagreement, greg. >> go figure. stuart: i don't get it. hey, greg, always a pleasure, i'm sure many times in the next 41, 43 days, what is it. >> looking forward to it. stuart: see you later. check the price of oil, please because we've got movement there. a barrel of crude is down to $90, 90.28. down a buck and oil is at or near the lowest level in seven weeks, watch out for the ill 0 inventory numbers, sounds technical. a very good economic indicate her coming up at 10:30. are we use ago lot of oil, a little oil, are we a fast or slow economy? we'll find out at 10:30. traders have their eyes on the middle east. iran's president mahmoud ahmadinejad will address the united nations on yam kippur.

and call for a new world order and israel, too. and here is president obama's response to this. >> make no mistake, pa nuclear armed iran is not a challenge that can be contained, threaten the elimination of israel, the security of gulf nations and the security of global economy and that's why the united states must do what we must to prevent iran from obtaining a nuclear weapon. >> and that's president obama speaking at the u.n. yesterday and ahmadinejad speaks today. in the next hour, the american muslim's response from the american islamic forum for democracy. joining us at 10:15. and elizabeth warren making headlines again, but do you remember this? >> in this country, who got rich on his own, nobody. you built a factory out there good for you, but i want to be clear, you moved your goods to markets on the roads to paid

for. >> the woman who started the income envy debate with that rant. turns out she was getting paid by a steel company and that against the unions. could it be true? and that's not all. questions whether she's licensed to practice law. that is just one of our new at ten stories. and then we have barnes & noble. it's got a lighter and thinner e-reader. so, nicole, is the stock up? >> oh, yeah, the stock is up lighter, thinner, high def. you want 7 inches, you want 9 inches, want to be able to read in the dark and do you want a strong tablet at a lower price to compete with apple? this is the pitch and the stock is up 3%. stuart: and have you considered doing commercials, nicole. no, no, don't do that. >> not yet. stuart: the tou is indeed dead flat. we are at a 7 point gain, that's all we have got. 13-4 to be precise.

we want to hear from you, send your e-mails, varney@foxbusiness.com. and that time 7 early movers, we've got the drug maker who said the fda is referring to the drug, i've never heard of the drug or the company, but it's up 11%. jabil circuit outlook disappoints and that stock is down 8%, a big name you know, ibm, says the president and chief executive will take on the chairman palisano. he retires. and shares 7% this week and up a little more. and i.t. distributor gives a disappointing, the stock is down. this one is up 3%. google's chief says don't expect to google maps on iphone 5 soon. google is down a little bit and now take a look at apple. it's around 670 dollars right

now and it's at 668. and speaking of smart phones, rim managed to add, i still don't get this, but they added 2 million subscribers to the blackberry service and that stock's recovered, back close to 7 bucks. dow is dead flat. look at this, dow is down .3. and that's flat. down .1, that's flat. and what do investors think? what should they do when they see violence on the streets of spain or the dictator of the president of iran, calling for the end of israel. we'll ask the top money man, what do you do when you see this. [ male announcer ] at scottrade,

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>> we have sad news, we have got word of the death of legendary singer andy williams, died at his home in branson, missouri last night. he was 84. dow jones average is up, 13,458. the real movement in the market is oil, at one point, when we were below $90, close to that now. 9 90.07 to be precise, i want to stay on the the markets and bring in keith fitz-gerald, joins from oregon, frequent guest on the program. when you see violence in spain and we saw that again overnight, and a general strike in greece, when you wake up in the morning, you see that kind of thing, does it make any difference to the way you invest? do you decide to buy one stock and sell another because of scenes like this? >> well, i tell you, stuart, it

doesn't cause me to make adjustments, it's more like a constant process and watching the tide come in or go out. three things, violence on the streets of spain, a, is it going to spread to italy, next up in france? are we going to see a further run in treasuries? will it strengthsen the dollar? those are things i think will happen as a result of this. i think we haven't seen anything yet and i expect it to get worse there. >> okay, another question about the news of the day. today, yom kippur, ahmadinejad, president of iran will make a speech at united nations, almost certainly condemning israel, maybe calling for elimination of israel on this of all days, yom kippur, when you see this kind of thing, does it make you feel about investing in oil or gold, does it make any difference, ahmadinejad, to your investment day? >> ahmadinejad is a wild card. i think the guy is it a loose cannon in many ways. i think that the psychological repercussions of anything that

comes out of his mouth is significant. yes, it causes me to look at gold very hard. yes, it causes me to look specifically at oil as a buying opportunity because if he does start shooting, he whips out his terrorist-- nuclear weapons, and both of those things fast and hard. and i want to explain why dow industrials are 13,400, less than a thousand points from the all time record high and yet, events like this in europe, ahmadinejad at the united nations, and the iran situation blowing up, a decline in middle america's income, very slow economy, 8% unemployment. why is it that we've got the dow at 13,450? >> i think it comes down to bernanke cheap money and i put it this way. you give me a trillion dollars and i'll show you a good time, too. >> but you know, mr. plosser, one of the fed governors came out yesterday and there's obviously a split in the fed and they are he' not really happy about printing up a trillion. does that factor in.

>> yeah, you bet it does, because the fed has been lost for some time now. they have no clue how real money works and the policies are throwing everything, but the kitchen sink into the mix and lately wondering if the kitchen sink is going to go in. so, i think that that is something that we really need to be careful about, above all else, is that they are, for the first time, beginning to come to the rationalization they haven't got a clue what to do. >> here is another news event. president obama leads in the polls and may win the the election, does that make a difference to you? >> you bet it does, huge swath of this country pay no taxes whatsoever, i think that fundamentally changes the psychology to the election, where that comes down is that it used to be you voted for the candidate that would do the best for you and for your country and now you vote for the candidate potentially, who is the least likely to take away your handouts, he very, very big difference. >> you sound skeptical about further gains for stock prices, are you? >> yes, i am. we are encouraging folks to gradually lighten up. we're taking advantage of the

rally to sell and bring some of the chips to the side line, that said, we are actively looking at opportunities in gold, oil, we're looking for treasuries to continue the run longer and start setting up a reversal. >> all right. thank you very much, keith fitz-gerald, always appreciate you being with us. the morning gold report, and talking about it there, we're at 1747. gold is down today, a loss of $19 per ounce, like oil, heading straight down and by the way, oil at this moment has dropped below $90 a barrel. 1747 among gold. and we've got more-- i can't believe this. more fallout from the monday night football debacle, could players decide to strike in sympathy with the refs? is the nfl going to fix this before tomorrow night's big game or is the nfl as popular as ever? here comes charles payne, he's as popular as ever and he's going to join us in one moment. ♪ tdd#: 1-800-345-2550 wh i'm trading, i'm totally focused.

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>> controversy at the replacement refs' call at the end of monday night's green bay seahawks game. that controversy is not going away. now shall the players may threaten to strike until the

real refs return or take a knee during the the games. and the next nfl game is tomorrow night. charles, look, the league, football is still wildly popular. charles: oh, yeah. stuart: millions and millions people, more may watch tomorrow night to see if the substitute refs screw it up again. the nfl is winning this one. charles: obviously, they're winning and the old addage, about all of this, what's to your point. they may have record numbers tomorrow. but here is the thing, you have players who are suggesting that maybe that players will take some sort of action and a lot of people referring to the tweet that's gone viral, but one of the guards from, tj lang, a guard from the packers, that i think that would be totally outrageously self-destructive on the players' part. and what i find interesting, if i'm the owner and coach of the green bay packers i'm morn concerned about my team. they went to december, before the first loss and now two lost,

gave up eight sacks in the first half the game. this guy is on the line. some guy on the other side of the line made four tax. don't give me something, that 20 players are throwing stuff at the it. v. shu shouldn't have been in that position, and the tj langs of the world need to worry about their jobs and doing their job on the field not the refs. because the refs didn't cost them the game. end of play cost the game. we need to throw a flag on your play. and more proof of income envy in america. new at ten, how much more money per hour do government workers make compared to the private sector? a lot. we have the number. and speaking of income envy, questions about elizabeth warren's law license. she's the one who started that debate with this rant. >> there is nobody in this country who got rich on his own. nobody. you built the factory out there, good for you, but i want to be

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call the number on your screen now! with the fidelity stock screener, you can try strategies from independent experts and see wh criteria they use. such as a 5% yield on dividend-paying stocks. then you can customize the strategies and narrow down to exactly those stocks you want to follow. i'm mark allen of fidelity investments. the expert strategies feature is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. stuart: listened to this. new at 10:00 new numbers on income and the in america. state and local government workers outturn private sector

workers by $12.30 an hour on top of the.2% drop in overall household income since president obama took office and the surge in food stamps and social security disability payments. charles payne says much of america has given up. new at 10:00 elizabeth warren who started the you didn't build that conversation may not even have a license to practice law in massachusetts and she was working against unions at a steel company. two pretty good new at 10:00 stories for you. no serious movement to the dow industrials. we are down 13 points. here's our company. a single member on the set will be charles payne. still down there on the stock exchange, nicole petallides. what is this? take the company private? i guess the stock is up?

>> a 20% premium with the stock above 17% already this morning and you should keep in mind relatively small cap company, $444 million is the market cap and the offer is roughly $532 million and pickup cards and such and several brands under the umbrella so the chief executive with a group trying to take this company private. stuart: i got the new home sales figures for the month of august. 370,000 new homes sold in that month. that is lower than people were expecting but it has not had any significant impact. dow industrials are down 17. back to the new at 10:00 story. according to the labor department public workers at the state and local level outturned the private sector by $12 an hour. meanwhile average american income has fallen 8.2% under

president obama and since 2009 twelve million americans have been added the nation's program up 34%. your point, you are saying on americans have given up? charles: that is a recurring theme in every piece of economic data you look at from participation in the jobs market particularly younger people. there was a report last week on suicide in this country, spiking through the roof. some of it is depression but there's a direct a link between that and america and also europe because you see giants speights in italy and everything we talk about. here is the thing that is crazy. i predicted two or three years ago there would be a civil war. not a physical civil war but between private and public sector. i thought the private sector would be fed up. we call the civil servants but i haven't seen that uprising but we are seeing it in other parts of the world.

in northern italy they want to break away from southern italy and in belgium the no. ones to separate from the south. spain what is going on hasn't done any press. we are tired of paying all the taxes for welfare state and want our own country. stuart: you come back home for a second and in parts of america weather is but directly to the vote people have gone against public sector unions. san diego, california, wisconsin, two votes limited public sector unions. when given a chance people often to express an unwillingness to keep paying the premium. stuart: no doubt it is bubbling but i thought of the cascade. an avalanche. chicagos teachers' strike. parents for down signs and said get back in school and teach my kids. you make twice as much money as i do.

i you kidding? in chicago, kids on the street and teachers demanding more money and there wasn't more public outrage. it has to happen. how can the overall equation in november be fairness and this is the sign of unfairness. paying taxes to someone making more money than i am and i have no upside potential. pension under fire and not guaranteed and i could be fired. stuart: don't have an answer to your question or statement. charles: surprised americans rather than giving up. stuart: we are going to do more on this because it is a very interesting point. $12.30 more public-sector than private-sector per hour. incredible. i want to get to another new at 10:00 story. according to a cornell while professor massachusetts senate

candidate elizabeth warren doesn't have a license to practice law in massachusetts. all rise. judge andrew napolitano is here. let me back up for a second. it is stated in the newspaper that elizabeth warren as a professor of law at hybrid university gave advice to steel company, advice that was doing down the unions trying to get $100 million out of their benefit package. if she doesn't have a lot license how could she operated as a professor, as a legal adviser on bankruptcy? >> great question. a little background. it is not uncommon for full-time professors of law at accredited law schools of which harvard is the summit, not to have a license to practice law in a state where the law school is located. law professors frequently move

around and maintain license in a place in which they were first licensed. is not unusual. i would not be surprised if half of the faculty is licensed in massachusetts so what can we do in massachusetts? she could give legal advice to harvard university because you can give legal advice to your employer even if you and the employer are in a state where you are not licensed. she is an expert in bankruptcy law. it pains me to defend her because she is a lunatic but to be fair -- [talking over each other] judge napolitano: she is an expert -- she is a lunatic but the arguments that no one acquired wealth on their own because they walk in a public sidewalk is absurd. she is an excerpt -- expert in bankruptcy law. it is in federal court. you do not need a license to practice law in a state in which the federal courts -- as long as the federal court admit you. from time to time not on a

full-time basis and not as a regular source of income but from time to time gave advice to corporations on bankruptcy law. stuart: she doesn't hassle license in massachusetts. judge napolitano: if she said i am a massachusetts lawyer she has serious problems. if represented to a judge that she is licensed in massachusetts massachusetts she has serious problems. she went into a federal court in boston and did not tell them she is not licensed in massachusetts she would have serious problems. no evidence that she did any of those things. stuart: she has a huge political problem if she was representing a steel company which was taking hundreds of millions of dollars of benefits away from unionized workers. judge napolitano: absolutely and senator brown will exploit the problem the next couple weeks.

stuart: she has the ongoing political problem of claiming minority status which got her a job as a harvard law professor on the ground she is a native american but she has not proven that. stuart: that could be a legal problem because -- [talking over each other] charles: high cheekbones isn't enough evidence? judge napolitano: if it is untrue it is fraud. stuart: grandmother's word isn't enough? judge napolitano: we are talking about a place where this gets you ahead. ethnicity get you ahead. i always thought in america we are supposed to be blind to these things and ethnicity get you ahead. it is not true. it is material misrepresentation intended to get someone to rely on it. that is called fraud. stuart: that is called your sense of humor. sarcasm.

charles: [talking over each other] charles: warren. stuart: that is name-calling. i am surprised that you. she is a socialist. [talking over each other] charles: a socialist now. [talking over each other] judge napolitano: in federal court in boston. stuart: thank you very much. i will call [talking over each other] judge napolitano: pretty powerful guy. [talking over each other] stuart: judge the polish town of. everyone is supporting the nfl arrest. including gamblers. hundreds of millions of dollars because of one call at the end of the game. even refunding from the game. gambling is a huge drop, will casinos take a hit. will they see less action?

they will talk about it. and winning las vegas. he will be with us. big-name you know, hewlett-packard. how bad is it? >> in your mutual-fund. hewlett-packard a new 52 week low with a quick chart that goes all the way back to 2003. hewlett-packard down 2%. one of the reasons, a court ruling, hewlett-packard could not exclude certain types of income. a tough economy we heard from all these companies about less demand and such so there you go. a new low. stuart: thanks very much. dow dead flat. down 3 points. that is all we got. what -- iran's president says israel has no roots in the middle east and can't be taken seriously and will be, quote, eliminated. president obama says the u.s.

will do what it must regarding iran. next judy jackson will respond to iran's saber rattling and the president's response. stuart: >> that is why the united states will do what we must to prevent iran from obtaining a nuclear weapon.

stuart: it crossed at the top of the hour.

the median price of a new home was up 17%. the biggest gain since the summer of 2004 according to thompson reuters. the annualized rate of new home sales 373,000. so much for deathwatch. research in motion says it added two million subscribers since last quarter. we also showed off the latest developments to the blackberry operating system. that new software will not be out until next year but stock is up. it was well over 100 and now it is 6 but it is balancing a little today. americans are spending more money on their cellphone bills. either they cut back on shopping for clothes and dining out and households than $1,200 a year on mobile phone bills more than 100. a little bit more vanilla? this is great! [ male announcer ] at humana, we believe there's never been a better time to share your passions... because the results...

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stuart: despite a sluggish economy and big drop in income and a spike in food stamps and social security disability payments president obama remain the head in the polls. and the economic plan compared to 39% for mitt romney but we must ask the question that the president asked in 1980. that would be reagan. are you better off than you were four years ago? mike reagan joins us to talk about the romney/ryan playbook and whether they are taking a

page from his dad's playbook. are you better off? some of you e-mailed your answers. here is ted roading in from pennsylvania. i am not better off today. cost of living keeps going up but people like myself have to find ways to stretch our dollars to make ends meet. we work hard all allies and our golden years are not so bold and. i democrat and i'm voting for romney. janice in california wrote my husband and i are earning more but both employers are weaker. we bought gold and apple stock so our investments are up. the leadership of our country has little to do with our circumstance because we are prepared. keep those e-mails coming. very informative about what you are thinking and doing. iranian president mahmoud ahmadinejad will address the united nations calling for an end to israel and a new world order. the un is allowing this speech on the jewish holiday of yom

kippur. president obama's response to these incendiary remarks from earlier this week. >> nuclear-armed iran is not a challenge that can be contained. would threaten the elimination of israel and the security of gulf nations and the stability of the global economy. that is why the united states will do what we must to prevent iran from obtaining a nuclear weapon. stuart: from the islamic forum for democracy, joining us from phoenix, arizona. thanks for joining us. always good to see you. >> great to be with you. at the end of the session we yesterday, pakistan's president suggested we make a universal x law that said you may not insult the profit mohammed. >> now today we have mahmoud ahmadinejad standing in front of the united nations on yom kippur, jolliest day of the year

for jewish people. it seems there really is a difference here between the way islam is being treated and the way jewish people are being treated. you are practicing muslim. how do you see this? >> absolutely. i will tell you i wrote today in the dallas morning news a piece called we need tough love for the arab world and the muslim community because i've find it insulting as a muslim that some people in our government and the free world thinks that we need to be treated differently than any other community that is respected that somehow muslims need to be coddles or they will implode and to violence. calvinist with different standard that i find bigoted that we need to be treated gently but not given the same respect and equal rights and the same -- free speech and as our jewish brothers and sisters celebrate their most holy day

today we find mahmoud ahmadinejad giving speeches that a genocidal and the president being the weakest. this is worse than 79 because that was just about iran. today this is more than iran. you see america in retreat in pakistan and afghanistan and the arab world and we are missing in action almost as if the obama administration's doctor and has been abandonment rather than one of strength. stuart: your position -- you are in a tiny minority. we very rarely hear from practicing muslims the kind of the opinions you frequently express on this program. you have lost the debate. you have lost the numbers. you have no numbers on your side. >> we have no numbers when it comes the loudest voices and strongest forces of evil between the old soil in the middle east that was told by hosni mubarak

and those like mahmoud ahmadinejad but lost in the din is the quiet minority bleaker still the majority that needs some power of america and the west to defend them and stand by them from the grassroots up but they are not getting any attention. they are not having riots and they had demonstrations in libya at the washington post and yet we have been ignoring them because the president doesn't want to make a case for liberty. the president wants to stay away from meeting with leaders of the free world and seeing we're not only behind them but want to lead from the front for the change and tipping point towards freedom and not be pushed around by bullies like iran and continued to see genocide as they're doing in syria and worrying about election politics or whatever formulation he is using but it is a post american era and the majority of muslims are waiting for that leadership. stuart: how would people like yourself, how would moderate

muslims respond if israel with america's help attacked iran and attempted to destroy its nuclear facilities? what would be your response? >> for those of us that live in the free world and believe in freedom that is the last resort and the only way to prevent them we would understand -- iran having a nuclear weapon. we and the stand if you are going to defeat political islam and radical islam you cannot allow genocidal maniac like mike wood, is it not -- mahmoud ahmadinejad 7 nuclear weapon. we see in egypt the brotherhood only had 25% of the vote so most muslims there was a green revolution in iran. i don't think many of the millions who we abandoned would be that upset with even their own government prevented from engaging in posturing with nuclear weapons that would put their entire country at risk. stuart: a frequent guest on this program and a welcome guest.

thanks for joining us. back to football. the last player of the seahawks, still causing quite a stir and now the afl-cio compares striking nfl referees to teachers and does it have a point? might be a good point. we will certainly raise the level of debate next. ♪ ♪ [ male announcer ] how do you engineer

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and it has been was for some now. they have no idea how everything works. you are beginning to wonder if the cochin singh will begin to go in. i think that is something we really need to be careful about above all else. stuart: is pretty flat day. we are down 19 points. look at the price of gold. we are down $16 now. 17.49. here is the big mover. oil. down $1.53. regular came in at $2.80 a gallon. that is the national average.

nicole, you have another stock hitting a new low. nicole: this is from an ipo. let's talk about life. it has a 70% stake in the ipo. here is blyth. it had a 70% stake. that is not good news for them. also, blyth, not long ago, had changed its outlook on the company to negative. they have this new upcoming ipo. this was august. here we are now in september, under the billion-dollar mark and selling off. speak you there you go.

thank you very much. can't get away from football. the nfl replacement refs i become a part of political discussion. listen to this statement did you watch that packer game last night? [laughter] i mean, give me a break. it is time to get the real rough and thought you know what, it reminds me of president obama and the economy. if you cannot get it right, it is time to get out. [ cheering ] i think these refs work part-time for the obama administration. stuart: politicizing the refs i think. they are conveying the striking refs to union workers. peter barnes is in washington. i think they are comparing them to teachers and firefighters. what is the connection between teachers and striking refs?

>> i will read it right from the afl cios memo to reporters on this yesterday. "union members bring huge value to our communities and our lives every day. scott walker and others should do well to remember that the next time they treat union members, firefighters, should remember that the next time they treat union members, firefighters, teachers and autoworkers differently than union reveries. ". stuart: it comes down to performance review. i do not think that established refs want their calls reviewed either. that is the connection. >> the nfl wants to add about 20 more reveries so a couple refs from games they deemed underperforming.

pay for performance. stuart: the refs do not want that kind of performance review which may take them away from full-time referring. i will turn this around, there was me, peter, this is stuart varney talking football. if those stand in refs who made a lousy call the other night, if they were in the union, that established union, they could not be -- if the union wins, they cannot be taken out of future games? >> that is correct. stuart: fill it out for me, lad. i am struggling here. [laughter] >> unions trying to protect their position. you know. they want to protect what they've got. right now they cannot be taken out of the game that way for a

bad call like we saw on monday night. stuart: i want your prediction. will the real refs be back in time for thursday night's game. tomorrow night? >> i don't -- sure. [laughter] i am like you. i am watching like everyone else. stuart: i got you on a football question. peter barnes, they give very much indeed. iran's president speaks to the united nations today. what will he say about israel today. president obama says the u.s. will do what it must with iran. what mr. obama is saying is a very far cry from this. >> do you really think third rate military dictators would laugh at america and burn our flag and attempt if ronald reagan was president?

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the attack in libya was all about the anti-muslim youtube video. that is after the president said that cannot be further further from the truth. question, if it time for mitt romney to start looking at foreign policy and start saying something like this about the president leadership. this is from 1980. >> do you really think iranian terrorists would have taken america hostage if reagan was president? do you really think third rate military dictators would laugh at america and burn our flag in contempt if ronald reagan was president? isn't it about time america had a president whose judgment we can trust. stuart: ruining the company from los angeles is mike reagan with reagan.com. you saw the ad.

you saw it back in 1980. do you think mitt romney is a kind of candidate that would put that kind of thing on the air? >> if you want to win, that is what he will have to do. he will have to take it to the president of the united states. with mitt romney do you think you would have 8.2 unemployment? with mitt romney do you think you would have so many people on food stamps? you go through all the situations we are in an america. mitt romney needs to be direct. he needs to point his abs at barack obama. and he needs to get angry. stuart: what did social media say about your fat pad 30 years ago is not they would just blast him. they would say --

>> ronald reagan did not let the media dictate how he would run his campaign. he did not run his campaign to win the mainstream media. they never supported ronald reagan. they never supported conservatives. romney can take as that attack the president, attack his policies and remind where we are and where we need to go. stuart: now, this morning we got news about america's income in the month of august. down again. that means we are now 8.2% lower. our medium income. 8.2% lower compared to two years ago. do you think that mitt romney is a kind of candidate that would

go out and say our you better off than you were four years ago? with a copy your dad on economic policy? >> you do not have to copy ronald reagan. how about are you better off today than you were last week or yesterday afternoon? most people are not better off today than they were a week ago. because of the numbers you just gave me. he could change it to fit his style. not copy ronald reagan's style here. ronald reagan won new hampshire because ronald reagan got kicked off when they shut the microphone off. mitt romney has to believe that the mainstream media is shutting his microphone off. that is what he has to do. stuart: you sell your dad from the inside. you know what kind of guy you're dad was. you are looking at mitt romney from the outside. what do you see from the

outside? >> the fact that yesterday he decided to spend time kissing the butts of the man who picked his butt just two weeks ago in charlotte, north carolina. why is he hanging with bill clinton? no need to do those kind of things. he needs to be out there campaigning to win the election. ronald reagan did not waste words and ronald reagan's did not waste time. that is what mitt romney is doing. the people running his campaign, if they do not win this campaign, they should be the ones who leave the republican party and never return. stuart: i think that this year, this election, is more gung ho for president obama and more anti-mitt romney. they take more sides more

clearly. this is my opinion. in any election i can remember. >> stuart, you are absolutely right. stuart: i think it is worse than in 1980. >> you are absolutely correct. it does not mean out they are out of control so you sit back and hope you win because you are a good guy. you do not win because you are a good guy. you win because you are aggressive and you take the fight to them. you do not sit there and take the mainstream said this about me i need to hold a press conference and i need to answer what the mainstream media is asking me. no. he needs to remind america where we are right now and ask the tough questions of the united states and bring it home in november. stuart: mike reagan, always a pleasure. thank you very much indeed. you know, we keep coming back to football. sorry, charles.

there is big money involved with those nfl press. a big part of that, of course, is gambling. hundreds of millions of dollars changed hands wrongly because of that call at the end of the game this week. will the casinos take a hit? will they see less action until the real rough comeback. we will talk to a guy who runs a sports book. he is with us next.

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♪ stuart: sales of new homes down .3% in august compared to july, but compared to a year ago sales were up more than 27%. also compared to 2011, medium price of a new home went up by 70%. that is a lot. check the price of oil. moments ago the government reported a big drawdown in inventories. we are using a lot more crude and the price keeps going down. we have marked road tests overseas. grace faith -- greece faces a national strike. move on to spain. thousands of people attack parliament. the cuts will be announced tomorrow. the bad news for our stock market.

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they seek approval in the first half of 2013 for this. it is obviously a big deal for them. it is an imperative blood disorder. these trials are hitting all of their key goals. stuart: thank you very much. the controversy over the replacement refs is a big financial story. hundreds of millions of dollars in gambling that changed hands. hundreds of millions of dollars just changed hands. director of race and sports operations at wynn las vegas. it occurs to me that with these replacement refs making some calls like the one we saw the other night, you cannot make a rational bet on the game, can you put back betting on football is a rational thing. it is a rational thing. with replacement refs, i cannot be rational.

>> well, the game is tough enough to beat. you have to beat the bookmakers vigorous. with that being said, if there is a bad call that cost you the game, you have to be overcome, you have to overcome two different deficits. i understand if you are on the wrong side of that game the other night, you have a bad taste in your mouth right now. stuart: you do think there could be some loss of business for you guys? >> there is some chatter out there, stuart. i have heard the customers, to the counter and say that that call will put them on the sidelines for a wild. now, of course, if you are on the right side of that, you are ready to be an action for the coming week. stuart: [laughter] i guess so. give me the odds that the regular refs will come back very soon.

>> they are a 129 favorite to be back. maybe not this sunday, but certainly the next. they will come together. they will meet somewhere in the middle. i do not know if they will make it by this sunday, but by next sunday they will be there. stuart: wynn las vegas, any plans to give the money back if there is another lousy call that changes outcome of the end of the game? >> i have been on the wrong side of a lot of games, two. it all evens out in the wash, stuart. i am sure you have had something go wrong with your gut. and, therefore, i am sure i will take the next hit and the customers will be on the fortunate side. stuart: we have a number between 150 and $250 million on that one game. is that an accurate number? >> in our country football is a

big thinking proposition. i do not know how much money would be obscured. there was a lot of money that on that particular game. it was only game you could bet on, therefore, all the action would be on that game. is it an accurate number? it is a number i use. i cannot call every rookie in every state to give you accurate numbers. i kind of used and divide a number. i multiply that by 50 or so. that is kind of where i came up with that one. stuart: it is a big number. thank you for joining us, as always. i hope you are right and the refs come back fast. my take on the iranian dictator speaking at the un on this young couple are. that is next. [ male announcer ] let's say you need to take care of legal matters.

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>> is the president working poor and welfare coalition blocking a return to prosperity for the country? former reagan economic advisor with the answers tonight at seven eastern. stuart: this will not take long.

here is my take on president mahmoud ahmadinejad. a few hours from now he will address world leaders from the podium at the united nations headquarters in new york. i do not know what she will say. i am more outraged at the fact that him being here in the first place. he hates jews and teaches us to make his speech on what is for jews the holiest day of the year. plastic layer about what iran has been doing for the last 30 years. killing americans, building a nuclear weapon, calling for the destruction of israel. absolutely detestable. president mahmoud ahmadinejad is here, roughly 2 miles from ground zero. why are we tolerating this? of america wants to play host to the united nations, i guess we have to let him and.

gaddafi came and so did castro. i do not have to like it. and more importantly, i am getting tired of paying for it.

stuart: this is the the highlight reel. roll it. >> public workers at the state and local level outearn the private sector. are you saying that americans, a lot of them have just given up? >> that's a recurring theme in almost every piece of economic data you look at. stuart: income envy in america. >> it is bubbling. there's no doubt about it that it is bubbling but i thought it would be a cascade, an avalanche at this point. the chicago teacher's strike are you kidding me? parents should have torn down those signs and said get back in the school and teach my kids. you make twice as much money as i do. are you kidding? are you kidding? in chicago? >> ten seconds, last word. charles: it is bubbling, but it is an outrage but not bubbling

fast enough. stuart: dagen and connell? dagen: good morning. i'm dagen mcdowell. connell: i'm connell mcshane. we have protests here and overseas, national strike in greece today. people are back in the streets over there. there's the greeks on the right side of your screen. also on the streets here in new york though, thousands voicing their anger against the president of iran as he's set to address the united nations. dagen: bags and bags of loot, airlines socking it to passengers with baggage fees and socking away big money. connell: then the romney ryan tax plan, who wins, who loses? we have bret baier to break it down later on in the hour. dagen: now to the stocks and every 15 minutes. nicole petallides has more. nicole: we are taking a look at google. it hit an all-time high yesterday. what we want to tell you is that google with the moves we have been seeing this week has now